Still Early Days but Positive Signs as Ozforex Invests for Growth
At its AGM, OzForex Group (soon to be renamed OFX Group) provided a reassuring trading update. First-quarter fiscal 2017 net operating income (which represents revenue less fee and commission expenses) increased 11.4% on last year to AUD 28.9 million. Active clients increased 2.4% to 151,400 and transactions increased 9.3% to 210,700. Brexit helped drive activity in late June, with search impressions of both OFX and OzForex brands in May and June showing encouraging signs increased marketing ini...OFX Group is engaged in the provision of international payments and foreign exchange services. Co. offers fast international money transfers at competitive rates for individuals & businesses. Co.'s two products are international payment services and international payment solutions. International payment services are monitored by geographic region (based on client location) and provide bank to bank currency transfers servicing businesses and consumers. International payment solutions are monitored globally and provide strategic partners with a package which includes: OFX Technology platform; client service; compliance sophistication; banking relationships; and payments capabilities.
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